Loans to micro, small and medium companies grew between January and November 2020 | News

Loans granted to medium, small and micro companies showed a significant expansion between January and November of last year, according to a study carried out by Experian Peru.

Thus, loans to medium-sized companies grew 46.19%, those granted to small companies did so by 31.80% and loans to micro-companies increased 26.57%. Loans to large companies also increased by 21.17%.

Similarly, in said period, the principal balance of the loan grew 13.4% in relation to a gross domestic product (GDP) with negative growth of -12.39% in the same period. In November of last year, the composition of the total capital balance of the financial system was: in traditional loans they represented 57%, in rescheduling 28% and in Government Programs and Cofide Funding 15%.

According to the study, this is explained by two factors: the opening of economic activities in phases and the injection of liquidity into the financial system via expansionary monetary policy.

“It is important to continue increasing access to loans to the mype sector while ensuring quality and access to credit risk assessment data. In this way, financial inclusion will be promoted and barriers to entry into the payments value chain will be reduced. Likewise, in this context, it is essential to expand the banking system by financial system entities and thus achieve formality to support the segments that need it most ”, said the Country Manager of Experian Peru, Diego Rincón.

Access

Another highlight in the Experian study is that it has managed to maintain a million micro-businesses and 134,000 small businesses have accessed credit in the financial system and have some economic activity that generates their income.

It should be noted that 51% and 23% of clients with a type of microenterprise and small business credit, respectively, do not register RUC in the origination of their credit in the financial system.

The analysis and recommendation of the study indicates that financial inclusion and access to credit in the mype sector should continue to be increased, promoting competition and reducing barriers to entry into the payment value chain.

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